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Air Jordan is a line of basketball and sportswear shoes produced by Nike, Inc. Related apparel and accessories are marketed under Jordan Brand.. The first Air Jordan shoe was produced for basketball player Michael Jordan during his time with the Chicago Bulls on November 17, 1984, and released to the public on April 1, 1985.
The bidding was started at US$500,000; after two weeks on the auction site, the price exceeded US$1,000,000. [2] The shoes eventually realized a sale price of US$1.38 million. [1] Another pair of Michael Jordan's game worn shoes, called the "Last Dance shoes", sold for US$2.238M. [6] The shoes were also previously owned by Preston Truman. [7]
The shoes have been resold for higher amounts than the original prices, with the Air Jordan 1 being sold for more than ten times the original price. Shoe resellers became banned and denied service from shoe stores over possible reselling of shoes. [19]
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Since then, the price has simmered. After trading mostly in the $400,000 to $500,000 range this April, two Jordan PSA 10s that Goldin auctioned off last week went for $344,400 and $288,000 ...
The Jordan ticket and one from Jackie Robinson's 1947 Major League debut both nearly doubled the previous record for the priciest vintage sports ticket when their auctions closed early Sunday morning.
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Sneaker companies encourage this trend by producing rare sneakers in limited numbers, often at very high retail prices. Artistically-modified sneakers can sell for upwards of $1000 at exclusive establishments like Saks Fifth Avenue. [21] In 2005, a documentary, Just for Kicks, about the sneaker phenomenon and history was released.
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